Question Description
According to the cost classification by time, costs can be classified as historical costs and predetermined costs. What are historical costs?a)Costs that are incurred for a particular product and included in inventory costb)Costs that are ascertained and recorded after they have been incurredc)Costs that vary in direct proportion to the volume of outputd)Costs that are incurred under abnormal conditions and not normally incurred in the normal course of productionCorrect answer is option 'B'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about According to the cost classification by time, costs can be classified as historical costs and predetermined costs. What are historical costs?a)Costs that are incurred for a particular product and included in inventory costb)Costs that are ascertained and recorded after they have been incurredc)Costs that vary in direct proportion to the volume of outputd)Costs that are incurred under abnormal conditions and not normally incurred in the normal course of productionCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for According to the cost classification by time, costs can be classified as historical costs and predetermined costs. What are historical costs?a)Costs that are incurred for a particular product and included in inventory costb)Costs that are ascertained and recorded after they have been incurredc)Costs that vary in direct proportion to the volume of outputd)Costs that are incurred under abnormal conditions and not normally incurred in the normal course of productionCorrect answer is option 'B'. Can you explain this answer?.

Solutions for According to the cost classification by time, costs can be classified as historical costs and predetermined costs. What are historical costs?a)Costs that are incurred for a particular product and included in inventory costb)Costs that are ascertained and recorded after they have been incurredc)Costs that vary in direct proportion to the volume of outputd)Costs that are incurred under abnormal conditions and not normally incurred in the normal course of productionCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for B Com. Download more important topics, notes, lectures and mock test series for B Com Exam by signing up for free.

Here you can find the meaning of According to the cost classification by time, costs can be classified as historical costs and predetermined costs. What are historical costs?a)Costs that are incurred for a particular product and included in inventory costb)Costs that are ascertained and recorded after they have been incurredc)Costs that vary in direct proportion to the volume of outputd)Costs that are incurred under abnormal conditions and not normally incurred in the normal course of productionCorrect answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of According to the cost classification by time, costs can be classified as historical costs and predetermined costs. What are historical costs?a)Costs that are incurred for a particular product and included in inventory costb)Costs that are ascertained and recorded after they have been incurredc)Costs that vary in direct proportion to the volume of outputd)Costs that are incurred under abnormal conditions and not normally incurred in the normal course of productionCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for According to the cost classification by time, costs can be classified as historical costs and predetermined costs. What are historical costs?a)Costs that are incurred for a particular product and included in inventory costb)Costs that are ascertained and recorded after they have been incurredc)Costs that vary in direct proportion to the volume of outputd)Costs that are incurred under abnormal conditions and not normally incurred in the normal course of productionCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of According to the cost classification by time, costs can be classified as historical costs and predetermined costs. What are historical costs?a)Costs that are incurred for a particular product and included in inventory costb)Costs that are ascertained and recorded after they have been incurredc)Costs that vary in direct proportion to the volume of outputd)Costs that are incurred under abnormal conditions and not normally incurred in the normal course of productionCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice According to the cost classification by time, costs can be classified as historical costs and predetermined costs. What are historical costs?a)Costs that are incurred for a particular product and included in inventory costb)Costs that are ascertained and recorded after they have been incurredc)Costs that vary in direct proportion to the volume of outputd)Costs that are incurred under abnormal conditions and not normally incurred in the normal course of productionCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice B Com tests.